Surrender Value in Insurance

Recently, the Insurance and Regulatory Development Authority of India (IRDAI) released a crucial consultation paper on increasing the surrender value for life insurance policies.

About Surrender Value

  • The surrender value of an insurance policy is the amount that the insurance company will pay the policyholder back when he or she decides to terminate the policy before maturity.
  • It applies only to those term insurance policies with a surrender benefit.
  • The surrender value is usually a percentage of the total premiums paid minus any applicable charges or fees.

Factors for Calculation of Surrender Value

  • The surrender value calculation in term insurance ....
Do You Want to Read More?
Subscribe Now

To get access to detailed content

Already a Member? Login here

Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.